EV charging cost - Who's counting the savings  (I am)

EV charging cost – Who’s counting the savings (I am)

May 1, 2023
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And yes, it's as easy as charging a phone, and almost as cheap!

Charging Porsche Taycan Between charging at home and paying for electricity at public charging stations, since buying an EV six months ago, I’ve spent less than HALF on electricity than I would have spent on petrol!

 

Read no further if you like detailed analysis, but I can tell you, after 6 months of Tesla Model Y ownership, running an EV is about 50% of the cost of my old petrol car.

 

But we know cost can be measured in many ways; dollars, time spent, and anxiety, so let’s see how EV’s work out cheaper all round.

The Cheapest place to Charge - At Home

You’ll do most of your charging overnight off peak at home, assuming you get organised and install a home charger.  This is the cheapest and most convenient way to recharge for day-to-day driving.


An installed Home EV Charger can pump in more electricity, faster than just plugging it in with the cable provided (the Granny Charger cable).


Off-peak electricity is around one quarter of the cost of public chargers.  Around 16 cents per kWh v the public charger cost of around 55 cents per kWh.


8 hours over-night will fill you up to 100% and cost about $10 to fully charge a 70kWh battery.  That’s about the average size of an EV battery.  That’s $10 of Electricity for over 300km driving.

That would have been 30 litres of petrol, or about $60 at the time of writing.  Convinced yet!


Also cheap in dollars but a bit more cost in terms of time, charging via the Granny Charger (the cable that often comes with the car plugs into a regular power outlet).  This uses cheap home power, Peak or off Peak, but is very slow, so you’ll want to avoid relying on this and keep it in the back of the car in case of emergency.

Granny charging will get you by

Granny charging will give you about 3% of battery capacity per hour, so you pay in terms of time, not ideal but whether its Peak or Off-Peak Power, it’s still much cheaper than petrol.

 

 

We are working with our Strata to install an EV Charger in the Apartment block, but until then I’m relying on Granny Charging at the slowest rate when I’m at the Office and Tesla Superchargers for top up.

 

 

Which leads to one of the main reasons for buying a Tesla, the Tesla Supercharger Network. The perfect remedy to range anxiety.

Tesla Superchargers - Anxiety remedy

But with the introduction of any new technology like EV’s, if you are out and about and running low, you need to know you can top up quickly and stress free and here’s where the convenience and reliability of the Tesla Supercharger network is a deal breaker.

 

Without doubt, the icing on the Tesla cake, the swinging vote as it were breath and efficiency of the Tesla Super Charging Network.

 

Tesla realised 10 years ago, the key to EV adoption and conversion to EV Ownership was an expansive and easy to use network of EV Chargers.  So, they went out and built one.  Now with over 45,000 world wide, and opening up to other brands, it’s been, I believe, one of the key’s to their success.

They are typically around 3 x faster than the fastest home charger, so 50% charge will only take about half an hour (or faster) and cost you around $20.00.  So a whole tank of electricity will cost you around $40.00 and give you about 400km.  Around half the cost of a car using 10 litres per 100km.

  • Conveniently and usually no waiting time, then 20 minutes of charge – enough time for Aldi
  • Just drive up and plug in, no App activation, all paid via your Tesla Account
  • Pay around $0.55 cents per kWh, still around half the price of petrol

 

Tesla Super Chargers

Tesla Chargers give you a safe feeling

The Tesla Super Charger Network is growing in popularity as Tesla ownership explodes and now, being open to other brands, is starting to cause some delays at certain times.

 

While there are plenty across the country and more than any other supplier, there are still not enough.  Look forward to the day when this will be as fast and convenient as driving up to a petrol station!

Till then, as a fortunate Tesla Model Y Owner, you can call me biased but there is only one place to top up, the network of Tesla Superchargers. 

 

This is not my new temple or church, I’m not a Tesla zealot, just a happy Tesla owner. 

Happy EV Driver

Financially, I'm much better off - how much ?

By my simple calculations, it’s costing about half what I was previously spending on petrol.  Petrol in Sydney, NSW is randomly switching between $1.75 -$2.05 per litre, for E10.  No one knows why.

 

By charging at my workshop about a third of the time, and topping up with Tesla Supercharger, I’m literally spending half what were to do the 500km per week we do for work and pleasure.

 

Other maintenance will also be minimal, and there isn’t much more to worry about.  Changing my driving technique to incorporate full Regenerative Braking means brake pad and disc wear will be minimal.  Instead of changing them at around 40,000 km, as I have done in the past, I shouldn’t have to worry till over 100!

 

There’s no oil to change, no fan belts, nothing else except for windscreen washer fluid.  I keep using it and it keeps running out.  Oh, and recently the car told me I was losing air in my right rear, puncture x 2. Fixed $60.

 

It is much cheaper than a petrol car and most of all, love the fact I never have to go to the petrol station!

“You can’t force things in life.  There is little I detest more than force.”

Ferdinand Porsche

If you’d like to know more about saving money owning an EV contact AmazingEV to chat to see how these numbers add up.

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